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Buy British For The Best Property Bargains
March 11, 2009Article by Ray Withers
London (11 March 2009) – If you are looking for a below-market-value property, bargain in the UK, now’s the time to start looking, according to investment consultants Property Frontiers.
The company has sold property at home and overseas for five years and feels now is the best time to pick the cream of the crop of repossessed UK property while owners and developers are weighed down by financial difficulties.
The fact is builders can’t sell their finished properties because first time buyers and many other prospective buyers can’t raise a deposit or mortgage. Nor can they move in tenants to sit out the financial crisis because the properties then become ‘second-hand’ and lose their new build price premium. Nevertheless, they still need to dig themselves out of a financial mess with funding taken out to complete the development.
Property Frontiers are now advising investors to invest their money in to good below-market-value UK property rather than looking at emerging markets abroad to make a profit.
The company has two value-for-money UK offers:
Merchants Court, Wavertree, Liverpool
Investors can opt for to buy one or more of the 30 flats available on an exclusive discount property deal offering 25% of the purchase price paid by new owners a year ago.
Then, a two bedroom flat in the Liverpool property development cost £135,000. Now, prices start at just under £90,000 for a property valued at £119,950 by two independent assessors.
Gross yields here are expected to lie between 7% and 10%.
Wavertree is a pleasant Liverpool suburb within a few minutes train ride from the city centre. The high street and a sports centre are a short stroll away.
The Shrubberies Mews Townhouses, Streatham, London Townhouses
An exclusive development of eight two double bedroom properties within a stone’s throw of the City and the West End with a massive £75,000 discount off the certified value of £375,000.
Each house has open plan living space and cloakroom downstairs, with double bedrooms and a bathroom upstairs.
Gross yields of 6% at £18,000 per year are expected from the development.
“The current global market situation has helped to create an exciting opportunity to acquire UK properties offering great long term potential for less than the cost of construction,” said Property Frontiers sourcing manager James Black.
“A huge number of developers and developments are currently either under great strain or are cancelling their future projects, this is simply going to create a critical lack of supply within a relatively short period of time.”
For more information contact Property Frontiers on +44 (0) 1865 202700.
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